“The technology is just so far gone. It’s just like back in the day you needed a suitcase just to have a cell phone. The battery was so heavy; it was like carrying a gallon of soda around with you all day.”… Jam Master Jay
The cell phone has redefined the way people communicate is a common phenomenon observed by all of us. But, do you believe Cell Phones and its accessories can also shape the career of IX standard school dropout boy to become one of the contemporary India’s Business icons? Yes, this story about Ajjay Agarwal depicts the way a boy who dropped out of school for lack of interest in studies but the absolute fascination for running the family business became a renowned Entrepreneur of contemporary India. Here is the story of the exciting journey of this boy who started as an accountant in his father’s business and became MD and Chairman of Maxx Mobiles with an approximate turnover of 1500 Crores.
Boarding Point of the Journey – The year 1992
The year 1992, Ajjay Agarwal was detained in IX standard at Mumbai’s Children Academy for his poor performance in academics. Ajjay, instead of repeating class IX, decided to opt out of education system and cuddle his fascination of associating with the family business. His parents accepted Ajjay’s interest wholeheartedly, and soon Ajjay was busy playing with numbers by calculating taxes, duties, commissions and profit margins in the business. He was paid 4000-5000 INR as salary by his father. Ajjay’s tenure as an accountant for his father’s business continued for four successful years. True to his fascination for bringing in new ideas, Ajjay helped his father to expand the business in different verticals like Garments, Musical instruments, and Mobile Phone accessories. The exploration of Mobile Phone accessories vertical gave a new direction to Ajjay’s career. He started traveling to China and Malaysia for business needs he developed.
Breakfast Point of the Journey-Year 2002
The journey which began in the year 1992, took a leap forward when Ajjay registered a new proprietorship firm with the name Maxx Mobiles and Phone Accessories in the year 2002. He had started this venture with seed money of 10 Lakhs rupees (all from his savings). Initially, his firm focussed on importing mobile batteries and selling them in the market with its brand name stamped on them. The market responded overwhelmingly to these batteries as it was offered at cut-throat pricing and with warranty. Here Ajjay’s company incurred losses as foreign companies were not ready to give replacements for damaged goods. But the move helped Ajjay to build a brand name for his firm.
Refreshment Point of the Journey Reached in The year 2004
Maxx Mobiles and Phone Accessories which was just a proprietorship firm got promoted as a private company with the brand name Maxx Mobiles in the year 2004. Ajjay started his manufacturing plant in a 3500 sq. fFt leased space to produce Mobile batteries at a place called Malad in Mumbai. So a person who was just importing mobile accessories from foreign players took up a new role by having his manufacturing unit with 25-35 people working for him. He had imported required machinery from Korea. Initially, the operation was difficult with a lot of breakdowns as the employees were not well trained. This resulted in Ajjay hiring a well-experienced technician from a different company by paying him to double the pay he was offered by previous employers. It worked out well for Maxx Mobiles, and they were soon able to produce 5000 batteries a day.
Destination One Reached in The year 2006
The Dream of all companies is to start operation in their premises. Maxx Mobiles is not an exception to this. Ajjay Agarwal also expanded his company by buying 6,000 Sq. ft. Land in Haridwar, Uttaranchal at a price of 20 Lakhs and also invested 2.5 crores on Machinery through Bank Loans. With Haridwar unit operational, Maxx Mobiles was able to manufacture 1 Lakh pieces of mobile battery units, and by 2006-2007 the turnover reached 5 Crores. Also, Maxx Mobiles took up manufacturing of Headsets along with batteries at Haridwar unit.
Destination Two Reached in The year 2008-09 Shift to Mobile Phones from Accessories
The year 2008, is one more milestone for Ajjay Agarwal as Maxx Mobiles shifted gears to sell imported Mobile Phones with its brand name and thus a transformation happened from a mere mobile accessories company to mobile phones dealing company. They established nearly 23 dedicated outlets across the country to sell the phones. In 2008, 33 different mobile phones were brought into the market. A fund of 12 Crore Rupees was utilized to brand the product by establishing a tie-up with IPL-T-20 Cricket tournament for advertising.
To support this aggressive move of advertising during IPL matches, Ajjay Agarwal established tie-ups with Star Holdings (Asia)—a Singapore-based company. Star Holdings funded approximately 100 Crore rupees in Maxx Mobiles ventures.
In The year 2009, Ajjay’s company reached another milestone by roping in M.S Dhoni as brand ambassador for their products during T-20 World Cup fixtures. From then on nearly 250 distributors and 35,000 retailers chain was established by Maxx Mobiles. The Company went on to make approximately Rs. 1260 crores turnover in the year 2011-12. According to Ajjay Agarwal, his company has 560 employee force, and in the year 2017, they are eyeing at a turnover of Rs.1500 crores.
Ajay Agarwal who added Extra ‘J’ in his name to become Ajjay as per numerology is the best example for all the millennial youth of the nation to pursue and follow their instincts to succeed in the current world. As mentioned by many great achievers achievement cycle has four stages; Conviction, followed by Passion, followed by Discipline and enhancing Competency. Mr. Ajjay Agarawal is the best example for personalities who have taken this path.